受国际权威法律评级机构钱伯斯（Chambers and Partners）连续第七年邀请，环球律师事务所为其独家撰写《全球法律指南》系列中的《私募股权趋势与发展（2026版）》之中国篇。该指南各个国家（地区）的专章均邀请钱伯斯排行榜中该专业领域的领先律所独家撰写，以简明扼要地介绍各司法辖区该专业领域法律和实务上的最新发展和趋势。

Global Law Office was invited for the seventh consecutive year by Chambers and Partners to exclusively contribute to the China chapter of the Chambers and Partners Global Practice Guides – Private Equity 2026 (T&D). Each country chapter has been written exclusively by contributing authors from firms highly ranked in this practice area within Chambers and Partners, to provide a brief introduction to the latest development and trend of law and practice in each jurisdiction.

此次《私募股权趋势与发展（2026版）》之中国篇由环球律师事务所郁雷、朱健飞、郭嘉、吴文渊撰写。该篇深入分析了中国私募股权/风险投资（PE/VC）市场的最新趋势与监管发展。主题包括：

• 中国PE/VC市场资本结构演变：人民币基金成为募资主要来源，国资与产业投资者参与度持续提升

• 监管环境演变：私募基金管理人持续出清，监管标准化程度提高

• 跨境投资新规的核心内容与影响

• 国务院54号文指引对私募股权市场的监管框架优化

• 2026年上半年中国企业境外上市概况与展望

• PE/VC退出路径观察：赎回权潜在监管变化及跨境并购退出的挑战

• 关于腐败和贿赂刑事案件的新司法解释对私募基金行业的影响

The China chapter was written by Steven Yu, Jeffrey Zhu, Jia Guo and James Wu. This chapter mainly analyzes the latest trends and regulatory developments in China's private equity/venture capital (PE/VC) market. The topics include:

• Evolution of Capital Structure in China's PE/VC Market: RMB Funds Become the Primary Source in Fundraising, with Increasing Participation from State-owned and Industrial Investors

• Evolution of the Regulatory Environment: Higher Standardization and Ongoing Market Exit of Private Fund Managers

• Key Content and Impact of New Cross-Border Investment Regulations

• No. 54 Guideline Optimizes the Regulatory Framework for the Private Equity Market

• Overseas Listings of Domestic Enterprises in H1 2026: Overview and Outlook

• Observations on PE/VC Exit Routes: A Potential Regulation Change on Redemption Rights and Challenges of Exit through International M&A

• Impacts of the New Judicial Rule on Criminal Cases Involving Corruption and Bribery on the Private Fund Industry